For the Quarter Ending March 2025
North America
The Butanediol (BDO) market in North America experienced a mixed price trend during Q1 2025. January began with stable pricing, driven by balanced supply and demand dynamics. Demand from key sectors like polyurethane (PU) and polybutylene terephthalate (PBT) was moderate, and stable raw material costs for butadiene and propylene helped maintain price consistency.
In February, BDO prices saw a slight increase due to rising demand and ongoing supply-side challenges, including reduced production rates and logistical issues. March witnessed a more significant price surge of 1.7%, fueled by stronger demand, especially from the PU resin sector, and persistent supply constraints, such as port congestion and shifting tariff policies.
Despite these challenges, manufacturing conditions remained steady with sufficient production capacity, though occasional production issues and tight inventory levels contributed to price volatility. Throughout Q1, the BDO market was supported by stable raw material costs and consistent demand from downstream industries. By March’s end, BDO prices were assessed at USD 1780/MT. Compared to Q4 2024, Q1 2025 showed a steadier price trend, with moderate fluctuations rather than significant increases.
APAC
During Q1 2025, the Butanediol (BDO) market in the Asia-Pacific region, particularly in South Korea, experienced a largely stable-to-soft price trend amid tepid demand and elevated competition. The quarter opened with prices at USD 1083/MT in early January, but a persistent post-holiday slowdown in downstream industries such as polyurethane (PU), PTMEG, and THF, alongside intensified competition and a buildup of inventories, drove prices down by month-end. February maintained this subdued tone with prices largely steady, as a balanced supply-demand dynamic and cautious buyer sentiment prevented any significant fluctuations. Although operational stability was upheld across production facilities, uncertainties surrounding global trade and logistics, including Red Sea route disruptions, limited market activity.
March saw further bearish pressure in the first half due to weak procurement from key sectors and oversupply from Chinese imports, bottoming out at USD 1052/MT. However, a modest demand rebound from the PU resin sector toward the end of March helped lift prices slightly. Compared to Q4 2024, where prices declined from higher post-inventory-replenishment levels, Q1 2025 reflected a flatter, more cautious market sentiment driven by prolonged demand recovery and heightened regional competition.
Europe
During Q1 2025, the European Butanediol (BDO) market exhibited a mildly volatile yet overall stable pricing trend, driven by alternating phases of demand fluctuations and supply chain pressures. In January, prices began on a stable note, supported by consistent demand from the PU Resin and THF sectors, despite weak consumer sentiment and modest industrial activity. As the month progressed, mild supply surpluses and inventory adjustments pushed prices slightly downward before rebounding to USD 1640/MT by month-end due to a pickup in downstream demand.
February saw relatively firm pricing, as robust demand from PU resin and THF industries, coupled with tighter inventories and sporadic supply issues, created moderate upward pressure. March opened with further price strengthening, propelled by heightened PU resin consumption in furniture and construction. However, by quarter-end, prices declined, driven by subdued PU resin demand, inventory corrections, and persistent logistical disruptions.
This trend was consistent across Europe, with balanced supply-demand dynamics, raw material stability, and downstream sector performance shaping the regional market in a similar manner throughout Q1 2025.
For the Quarter Ending December 2024
North America
The North American Butanediol (BDO) market demonstrated an inclining price trend throughout Q4 2024, supported by robust demand and market dynamics. Strong downstream consumption from sectors like polyurethane (PU), polybutylene terephthalate (PBT), and tetrahydrofuran (THF), along with inventory replenishment efforts after destocking phases, significantly contributed to price increases during the first half of the quarter. Supply-side challenges, such as logistical disruptions due to port congestion and labor strikes, further bolstered price levels. Rising raw material and energy costs also elevated production expenses, adding upward pressure to prices.
By late November, logistics began stabilizing, and supply chains operated more efficiently. However, demand moderated slightly in December due to seasonal slowdowns and cautious purchasing behavior from downstream industries. Despite these late-quarter adjustments, consistent demand from key sectors and economic resilience helped maintain the overall upward price trajectory. BDO prices in North America closed Q4 at a higher level compared to the start of the quarter, reflecting strong market fundamentals and heightened production and logistical costs earlier in the period.
The quarter-on-quarter change of -4% highlights a significant rebound in prices within a short timeframe. As Q4 draws to a close, the latest price stands at USD 1774/MT for 1,4 Butanediol DEL Texas in the USA, signaling a strong upward trajectory in pricing trends.
APAC
The Butanediol (BDO) market in the Asia-Pacific (APAC) region exhibited a mixed trend during Q4 2024, with an incline in the first half followed by a decline in the latter half. Early in the quarter, prices increased due to robust demand from downstream industries such as polyurethane (PU), polybutylene terephthalate (PBT), and tetrahydrofuran (THF). This surge was driven by inventory replenishment efforts post-destocking and heightened production activity ahead of the Lunar New Year. Temporary supply constraints, including planned maintenance shutdowns, added to the upward pressure on prices. Logistical challenges, such as port congestion and equipment shortages, further complicated supply chain dynamics, supporting price increases.
However, the trend shifted in the second half of the quarter, as seasonal slowdowns in industrial activity and reduced consumption in key sectors, including construction and automotive, dampened demand. Additionally, increased production capacity and stable raw material availability led to market oversupply, driving prices downward. These factors, combined with economic uncertainties and cautious purchasing behavior.
China witnessed the most significant price changes, with a quarter-on-quarter decline of 4% recorded for 2024. Thus, resulted in a decline in BDO prices by the end of Q4 2024, closing at USD 1114/MT FOB Qingdao.
Europe
During Q4 2024, the Butanediol (BDO) market in Germany demonstrated distinct price trends. In the first half of the quarter, prices remained stable, supported by balanced supply-demand dynamics and steady downstream activity from industries such as polyurethane (PU) and tetrahydrofuran (THF). Consistent domestic production levels and effective inventory management by both producers and distributors contributed to this stability. Despite external pressures, such as fluctuations in crude oil prices and ongoing port congestion, market equilibrium was maintained.
However, as the quarter progressed, prices began to decline due to a combination of seasonal factors and economic challenges. A slowdown in downstream industries, including automotive and construction, coupled with reduced activity in sectors like spandex and polyurethane resins, weakened overall demand. The rise in domestic production capacities and inventory adjustments further contributed to a market surplus, amplifying downward pressure on prices. Persistent port congestion in Northern Europe, particularly in Hamburg, led to logistical delays, exacerbating supply chain inefficiencies. By the end of the quarter, the German BDO market faced declining prices driven by reduced demand, increased supply, and broader economic concerns.
Germany, experiencing the no major fluctuations, saw 0% change from the previous quarter in 2024. The quarter-ending price for 1,4-Butanediol FD Karlsruhe in Germany was USD 1658/MT. Overall, Q4 2024 witnessed a steady decline in BDO prices in Germany, reflecting reduced demand, oversupply, and broader economic challenges.
For the Quarter Ending September 2024
North America
In Q3 2024, Butanediol pricing in North America experienced a mixed trend. The first half of the quarter saw a notable increase, with the USA showcasing the most significant price changes. This uptrend was influenced by robust demand from key industries like polyurethane, PBT, and spandex, which outpaced supply levels. Additionally, supply constraints due to technical issues, maintenance shutdowns, and rising feedstock costs elevated production costs, pushing prices higher. The market displayed a positive correlation between demand spikes and price hikes, supported by stable input costs and export demands to various markets.
In the second half of the quarter, however, Butanediol (BDO) prices declined due to several key factors. A seasonal slowdown in demand from downstream industries, particularly PTMEG and PBT, significantly impacted consumption. Increased domestic production, driven by improved plant efficiencies, created a market surplus, while inventory adjustments by producers and distributors added to the supply. Furthermore, port congestion stemming from a potential strike at East Coast ports heightened shipping delays, disrupting logistics and adding to market uncertainty. This combination of factors reinforced the downward pressure on BDO prices during this period.
The quarter-on-quarter change of -7% highlights a significant rebound in prices within a short timeframe. As Q3 draws to a close, the latest price stands at USD 1670/MT for 1,4 Butanediol DEL Texas in the USA, signaling a strong upward trajectory in pricing trends.
APAC
Throughout the 3rd quarter of 2024, the APAC region experienced a notable decline in Butanediol prices, primarily influenced by several significant factors. Seasonal variations and a slight economic slowdown contributed to reduced prices. However, consistent demand from downstream industries such as Polybutylene Adipate Terephthalate, tetrahydrofuran, Polyurethane resin, and spandex led to a high production and supply. This surplus, coupled with increased domestic production and inventory adjustments, exerted downward pressure on prices. Additionally, declining feedstock prices, stable production costs, and cautious purchasing behavior further contributed to the price decrease. China witnessed the most significant price changes, with a quarter-on-quarter decline of 4% recorded for 2024, and a notable 7% difference between the first and second halves of the quarter. This downward trend culminated in a quarter-ending price of USD 1012/MT for 1,4 Butanediol Ex-Qingdao in China. The overall trend reflected a negative pricing environment characterized by stability in production costs and a surplus in supply, resulting in a continuous decline in Butanediol prices.
Europe
Throughout Q3 2024, the European Butanediol market experienced stable prices, with Germany witnessing the most significant fluctuations. Weakening demand in sectors such as construction, paints, and coatings, coupled with a slowing economy, exerted downward pressure on prices. However, stable demand from segments like tetrahydrofuran (THF) production, PBT, polyurethane (PU) resin, and spandex mitigated these declines. Additionally, a stable global BDO supply contributed to overall price stability.
The market faced challenges from port congestion, exacerbated by recent strikes and longer transit times from the Red Sea, but these disruptions were somewhat alleviated by a slight easing of congestion. Overall, adequate inventory levels and a stable economic environment supported consistent pricing throughout the quarter.
Germany, experiencing the most fluctuations, saw a -12% change from the previous quarter in 2024. The quarter-ending price for 1,4-Butanediol DDP Frankfurt in Germany was USD 1664/MT. Overall, the pricing environment for Butanediol in quarter 3 2024 remained consistently stable, focusing on maintaining competitiveness in a fluctuating market.
For the Quarter Ending June 2024
North America
Q2 2024 was marked by fluctuating Butanediol (BDO) prices in North America due to several key factors. In the first half of the quarter, prices showed an upward trend, driven by improved economic conditions and increased manufacturing activities, which enhanced the availability of finished goods. Despite average downstream demand, rising propylene prices at the end of Q1 led to higher production costs. Although US construction spending dipped and energy inventories fluctuated, the market remained bullish with expectations for higher prices supported by limited manufacturing activities and anticipated international demand increases.
However, the latter part of Q2 saw a shift as a significant oversupply emerged from increased production levels and higher import volumes. This surplus was exacerbated by lower consumption in key downstream industries, such as Tetrahydrofuran (THF) production and solvents, leading to excess inventory. Additionally, reduced n-butane feedstock costs lowered production expenses, enabling more competitive pricing. Economic indicators, including a decrease in the producer price index, also reflected lower overall costs and negatively impacted market sentiment.
The quarter concluded with a 6% decrease in BDO prices from the previous quarter and a 3% reduction from the first to the second half of Q2. The final price for 1-4 Butanediol DEL Texas settled at USD 1649/MT. Overall, Q2 2024 exhibited a mixed trend in BDO prices, influenced by fluctuations in demand, supply dynamics, and broader economic factors.
Europe
During Q2 2024, the European Butanediol (BDO) market experienced a hybrid trend with significant fluctuations. In the first two months, prices in Germany rose due to a stronger-than-expected economic recovery, boosting demand in downstream industries like polyurethane and PBT resins. Seasonal factors tightened the supply-demand balance, while production issues, technical problems, and logistics disruptions further strained supply. Rising raw material costs for key feedstocks, such as n-butane and maleic anhydride, increased production expenses, compounded by global supply tightness and currency fluctuations.
However, by the end of the quarter, prices declined due to reduced demand from key sectors, including paints, coatings, solvents, and tetrahydrofuran (THF) production, coupled with sluggish growth in construction. This seasonal downturn led to an accumulation of inventories, with production outpacing weak demand. Stable upstream feedstock prices and reduced export volumes contributed to the domestic supply glut, leading to lower prices. Compared to the previous quarter, BDO prices showed a 4% increase, underscoring persistent downward pressure.
Overall, Q2 2024 saw BDO prices in Germany ending at USD 1728/MT DDP Frankfurt, reflecting a bearish market sentiment. The quarter's mixed trend was driven by fluctuating demand, excess supply, regional disparities, and inventory adjustments, alongside raw material cost changes and broader economic factors.
APAC
In Q2 2024, the Butanediol (BDO) market in the APAC region exhibited a mixed pricing trend influenced by several key factors. Initially, prices in South Korea declined in the first two months due to weak demand and stable feedstock costs. Downstream industries, such as paints and coatings, showed moderate demand in line with the regional economic slowdown. Additionally, subdued demand from China, affected by Spring Festival maintenance closures and a sluggish construction sector, further dampened market activity. Stable propylene prices offered limited support, leading to a bearish market characterized by moderate supply and low to moderate demand.
As the quarter progressed, prices saw an uptick driven by increased demand from downstream industries and higher production costs. Seasonal factors, especially in paints, coatings, and construction, contributed to this increase, alongside stable feedstock prices for n-butane and maleic anhydride, which maintained production costs but added upward pressure on final BDO prices. Ongoing inflationary pressures and fluctuations in natural gas prices also influenced market dynamics, resulting in a gradual increase in BDO prices.
Despite a -7% decrease from the previous quarter, indicating a less volatile but stabilizing market, the latest quarter-ending price was USD 1158/MT for 1,4-Butanediol Spot Ex-Busan in South Korea. This reflects a hybrid pricing environment, suggesting that while there were fluctuations, the overall sentiment for BDO pricing in the APAC region remained cautiously optimistic, driven by a balanced interplay of demand, cost factors, and seasonal variations.
